(Bloomberg) -- Chinese President Xi Jinping is renewing his years-long push to achieve technology self-sufficiency by tapping a top deputy to shepherd a key initiative aimed at helping domestic chipmakers overcome U.S. sanctions.Liu He, Xi’s economic czar whose sprawling portfolio spans trade to finance and technology, has been tapped to spearhead the development of so-called third-generation chip development and capabilities and is leading the formulation of a series of financial and policy sup
The world's largest semiconductor company (as measured by revenue), Intel (NASDAQ: INTC), has not been having a good go of it as of late. The company has fallen behind technologically to leading chip fabrication behemoth Taiwan Semiconductor (NYSE: TSM), and myriad other chip designers like NVIDIA (NASDAQ: NVDA) have been scooping up sales from Intel's dominant PC and data center biz. Intel has a plan to invest heavily in its fabrication process and revamp its product designs, though, and some investors have drawn parallels between Intel now and where scrappy general purpose chip company AMD (NASDAQ: AMD) was in the years following the Great Recession of 2008-2009.
In the latest trading session, TSMC (TSM) closed at $119.45, marking a -1.27% move from the previous day.